5G-ready Bharti Airtel’s profit up sixfold; sees 22.2% revenue growth

Bharti Airtel’s consolidated net profit jumped over 5.6 times year-on-year (YoY) to Rs 1,607 crore in the first quarter of FY23, led by strong revenue growth and 4G customer addition.

Still, the telecom major’s net profit was below the Bloomberg consensus estimate of Rs 2,451 crore. In the same quarter last year, Airtel had posted a net profit of Rs 284 crore. April-June 2022 was the seventh consecutive profitable quarter for Airtel.

The company’s healthy results came ahead of the launch of its 5G services in India later this month.

Airtel’s consolidated revenue from operations during the quarter under review rose 22.2 per cent YoY to Rs 32,805 crore; its average revenue per user (ARPU) grew 2.8 per cent sequentially and by over 25.3 per cent YoY to Rs 183.